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Court Accepts Fiduciary Capacity Argument, Exempts Receipts from Section 44AB Audit Requirements of Income Tax Act.

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....Failure to audit accounts u/s 44AB – the contention that the receipts which was received by him was received in a fiduciary capacity which did not belong to him is acceptable - AT....

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Court Accepts Fiduciary Capacity Argument, Exempts Receipts from Section 44AB Audit Requirements of Income Tax Act.